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Cryptocurrency Archive

Archives for August 2023

PayPal launches PYUSD stablecoin backed by the US dollarPayPal launches PYUSD stablecoin backed by the US dollar
Coinbase argues it doesn’t trade securities, so the SEC’s lawsuit should be dismissedCoinbase argues it doesn’t trade securities, so the SEC’s lawsuit should be dismissed
Emma Roth
Emma Roth
The DOJ is reportedly considering alternatives to charging Binance.

According to a report from Semafor, US prosecutors believe charging Binance with fraud could result in mass withdrawals from the crypto exchange, which is something we saw with the collapse of FTX.

Because of this, Semafor reports that the DOJ is looking into imposing fines and deferred or non-prosecution agreements instead. That still doesn’t mean Binance is off the hook — the exchange and its founder Changpeng Zhao are already facing charges from the SEC.

U.S. prosecutors worry Binance charges could cause run on exchange

[www.semafor.com]

Kenya suspends Sam Altman’s eyeball-scanning crypto projectKenya suspends Sam Altman’s eyeball-scanning crypto project
A bankrupt crypto firm tried to return funds — but customer data might’ve been stolen insteadA bankrupt crypto firm tried to return funds — but customer data might’ve been stolen instead
Jay Peters
Jay Peters
GameStop is ending support for its crypto wallet.

It’s removing the GameStop Wallet from the App Store and Chrome Web Store on November 1st, according to a notice posted on its NFT website. GameStop is blaming the “regulatory uncertainty of the crypto space.”

When the company laid off staff in December, Axios reported that the crypto wallet team was “heavily impacted.”

A GameStop notice that reads: “Due to the regulatory uncertainty of the crypto space, GameStop has decided to remove its iOS and Chrome Extension wallets from the market on November 1, 2023. We advise that all customers ensure that they have access to their Secret Passphrase by October 1, 2023. Any customer with access to their Secret Passphrase has the ability to recover their account in any compatible wallet. Information on how to obtain your Secret Passphrase can be found on our help site.”
Here’s where that “help site” link goes, if you’re curious.
Screenshot by Jay Peters / The Verge

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